In what could become one of Spain’s largest corporate deals of the year, the Domínguez brothers have officially put Dinosol, the parent company of supermarket giants HiperDino and SuperDino, up for sale.
The company, which dominates the Canary Islands’ food retail sector, is valued at over €1.1 billion and has enlisted investment bank Arcano to manage the transaction.
Dinosol currently operates more than 260 stores across the Canary Islands, holding a 26% market share and generating close to €1.6 billion in annual revenue. With an EBITDA of approximately €140 million, the company has established itself as one of Spain’s most profitable regional supermarket chains.
The announcement has drawn attention from both national and international investors. Carrefour is reported to have shown early interest, although its ongoing divestments in Italy and Poland may limit its capacity to proceed.
Other names said to be considering a bid include Dia, Portuguese conglomerate Sonae, and Czech billionaire Daniel Kretínský, who already holds stakes in Caprabo and Eroski’s Balearic Island operations.
The strong interest reflects a wider trend as regional supermarket chains in Spain are currently outperforming national players in both growth and profitability.
In preparation for the sale, Dinosol has restructured its corporate framework by separating its commercial operations from Aja Inversiones, the group's holding company, simplifying the path to acquisition for potential buyers.
The company’s origins date back to 1978, when brothers José Abraham and Andrés Domínguez founded it in Las Palmas de Gran Canaria. Dinosol was sold in 1996 to Vista Capital, an investment company linked to Banco Santander, and later rebranded as Superdiplo.
In 2012, following a period of financial instability, the Domínguez brothers and current CEO Javier Puga repurchased the company for €35 million. Now, just over a decade later, they are aiming for a multi-billion-euro exit.
Looking ahead, Dinosol is continuing its expansion plans despite the pending sale. The group intends to open 21 stores in Mallorca this year, capitalising on the island’s booming tourism industry, and is preparing to enter the Moroccan market by late 2025, with the first store set to open in Laayoune under the HiperDino brand.
For investors seeking a strong foothold in the Spanish retail sector or a strategic launchpad into African markets, Dinosol presents a rare and highly valuable opportunity.
